Arizona man admits running $10M scheme involving Glenside man

By Matt CoughlinStaff Writer

Friday

Aug 30, 2013 at 12:01 AMAug 30, 2013 at 10:15 AM

While a Glenside man is awaiting trial, his alleged co-conspirator has pleaded guilty to leading a scheme that swindled more than 800 people out of more than $10 million, according to the U.S. Attorney’s Office.

Andrew Bogdanoff, 66, of Scottsdale, Ariz., pleaded guilty to multiple counts of mail and wire fraud, money laundering, conspiracy and filing false tax returns. Authorities said the advisory sentencing guidelines call for between 121 and 151 months in prison. His sentencing is scheduled for Dec. 4.

The Glenside man — Matthew McManus, 44 — worked under Bogdanoff at Remington Financial Group between 2005 and 2008, according to authorities. During that time, the company received fees of $10,000 or more to find investors for clients’ business concepts, authorities said. Remington took money and claimed to have investors lined up, but all Bogdanoff and McManus were really doing was getting paid, according to U.S. Attorney Zane David Memeger.

Also charged are Shayne Fowler, 28, of Scottsdale; Joel Nathanson, 26, of San Diego; Frank Vogel, 48, of Rochester Hills, Mi.; and Aaron Bogdanoff, 25, of Scottsdale. Nathanson and Fowler have pleaded guilty and are awaiting sentencing as well.